A small business loan is a specialised financial solution tailored to meet the needs of small or medium scale businesses. Some of the best features about small business loans include easy to meet eligibility criteria and minimal documentation, which make the loan application process quick and hassle-free. This credit facility also comes with the quick approval feature to help small businesses fulfil their urgent working capital needs, such as purchasing raw materials, paying staff salaries, or upgrading equipment.
Meet our simple eligibility criteria, which include a minimum business continuity of 3 years and a CIBIL score of 685 or higher, among others, to avail of an unsecured business loan from Bajaj Finserv at affordable rates. With our easy online application process, you can get approval on your loan application in just 24 hours* and secure collateral-free financing of up to Rs.45 lakh. This loan also comes with additional benefits, such as the Flexi facility, under which you can withdraw flexibly from the sanctioned loan limit and pay interest only on the amount utilised.
Click here to apply for a Bajaj Finserv Business loan and benefit from a range of features including flexible repayment tenors and attractive interest rates.
MSME stands for Micro, Small and Medium Enterprise. It was introduced by the Government of India in agreement with the Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. As per this act, MSMEs are the enterprises involved in the production, processing or preservation of goods and commodities. Vital for economic growth, this sector contributes around one-third of the country’s GDP and generates employment for around 110 million of the population.
It also plays an important role in the socio-economic development of the country as many of these enterprises operate in rural India. According to the Government's annual report of 2018-2019, more than 6 lakh MSMEs operate in the country.
Initially, MSMEs were classified based on two factors - investment in plant/machinery and an annual turnover of the enterprises. However, the Ministry of Micro, Small and Medium Enterprises has recently revised the classification by combining these two factors into a single criterion.
The MUDRA loan is provided under the Pradhan Mantri MUDRA Yojana (PMMY) to non-farming and non-corporate micro and small enterprises. These enterprises can avail loans up to Rs.10 lakh under the MUDRA (Micro Units Development & Refinance Agency Ltd.) scheme.
We have discontinued this product (MUDRA Loan) at this time. Please reach out to us on +91-8698010101 to know more about the current financial services provided by us.
|Loan amount under Shishu||Up to Rs.50,000|
|Loan amount under Tarun||Rs.50,001 to Rs.500,000|
|Loan amount under Kishore||Rs.500,001 to Rs.10,00,000|
|Processing fees||0.5% for Tarun Loan, nil for others|
|Eligibility criteria||New and Existing Units|
|Repayment period||3-5 Years|
Get up to Rs.45 lakh to upgrade equipment | Pay only interest as EMIKNOW MORE
Convert your existing loan | Pay lower EMIs by up to 45%*KNOW MORE
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